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Iowa Finance Authority and Iowa Department of Natural Resources Announce $64 Million in Water Quality Loans to 17 Communities

February 1, 2019
Reinbeck Courier
State Revolving Fund to Assist Communities with Water Quality Projects Des Moines - The Iowa Finance Authority and the Iowa Department of Natural Resources recently announced that 17 Iowa communities have received low-interest water quality loans totaling more than $64 million through the State Revolving Fund. State Revolving Fund Construction Loans are a low-cost construction financing option available for Iowa cities and municipalities for water quality initiatives. Planning & Design Loans are zero percent loans that assist with the first-phase of project expenses. “The City of Mount Ayr will use the $4.1 million construction loan to replace all non-PVC water mains in town,” said Mount Ayr City Clerk Pamella Poore. “We would not be able to advance this essential project and keep rates low for our taxpayers without the affordable financing through the State Revolving Fund.” “We’re proud to offer the State Revolving Fund as a key financial mechanism for communities to affordably upgrade their water infrastructure,” said Iowa Finance Authority Executive Director Debi Durham. “This program helps keep costs low for taxpayers and helps to position communities for economic growth.” Iowa communities and municipalities have received a total of nearly $3.3 billion in Construction Loans and more than $240 million in Planning & Design Loans since the program’s inception. “Water infrastructure upgrades made possible by the State Revolving Fund benefited nearly 900,000 Iowans last year alone,” said Iowa Department of Natural Resources Acting Director Bruce Trautman. “This financing can help communities of all sizes as they face a wide-array of water quality improvement needs.” The U.S. Environmental Protection Agency provides annual capitalization grants to states. Leveraged bonds and loan repayments expand the reach of the federal investment. More than $3 in assistance has been leveraged for Iowa water quality projects for every $1 of federal funds. More information is available at IowaSRF.com. The Iowa Finance Authority administers the State Revolving Fund (SRF) in partnership with the Iowa Department of Natural Resources. The SRF assists communities with the costs of upgrading or constructing local wastewater and drinking water infrastructure projects. Recent Loan Recipients: Reinbeck, Grundy County $792,000 Sewer - Treatment Improvements.
 
 

 

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